112,160 Shares in Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 112,160 shares of the company's stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Melco Resorts & Entertainment by 140.7% in the 4th quarter. GAMMA Investing LLC now owns 7,533 shares of the company's stock valued at $44,000 after buying an additional 4,403 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Melco Resorts & Entertainment in the fourth quarter worth about $58,000. Empirical Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment in the fourth quarter worth about $73,000. Wealthspire Advisors LLC acquired a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth about $145,000. Finally, XTX Topco Ltd bought a new position in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $328,000. 39.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Susquehanna lowered their target price on Melco Resorts & Entertainment from $10.00 to $9.00 and set a "positive" rating for the company in a research note on Monday, February 3rd. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. Finally, Citigroup raised shares of Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $7.29.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO traded down $0.07 during trading hours on Friday, reaching $4.76. 8,399,148 shares of the stock were exchanged, compared to its average volume of 3,724,049. Melco Resorts & Entertainment Limited has a twelve month low of $4.55 and a twelve month high of $8.90. The stock has a market cap of $2.03 billion, a PE ratio of -21.64, a PEG ratio of 0.63 and a beta of 0.87. The firm has a 50 day moving average of $5.49 and a 200 day moving average of $6.13.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.